Interest piece looking at NZ house prices relative to incomes, affordability has improved since 2011.
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NZ houses getting more affordable.
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The data, as they allude to, has to be flawed. Demographia, a New Zealand company orginally, publish actual hard data on housing affordability world wide on real numbers not crowd sourcing. The trend my be correct but in that wages may be rising faster than house prices currently, (although I doubt it). We are one of the most unaffordable on the income to value metric certainly not 18th. We are in fact 6th http://www.demographia.com/dhi.pdf
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When the Demographia report came out I heard Nick Smith on National Radio say that according to the report Auckland median income had declined by $5000 in the last year. That is really quite unlikely, isn't it? It would significantly impact the affordability ration if it is in fact wrong in the report. Lies, damn lies ...
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No doubt this is true in many of the provinces. House prices have hardly moved in years.You can find me at: Energise Web Design
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I think, the author (Andrew Chen) is a Engineering student.
The blog is a pretty sloppy bit of analysis, (considering his understanding of measurement).
The crux of his question (and conclusion) revolve around a single (thinly populated) graph.
He's not even pointed out what he means by "income" and "house price", or where the data came from.
Would like to see more definitions, and data tables, Chen.
But this bit was was funny
"Property prices are rising... Reasons ... supply and demand ... Asian invasion ... interest rates ... humanoid reptilians ...."
Correct to all of the above , but starting with U.S. and Global central bank policy and political ambition. Not so sure about the reptilian invasion, unless you're referring to the primal reptilian nature of greed.
Last edited by McDuck; 24-01-2015, 07:21 PM.
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John Key Im not a reptile | Politics | 3 News
Last month, Auckland man Shane Warbrooke put in an OIA request to the prime minister's office, asking for "any evidence to disprove the theory that Mr John Key is in fact a David Icke style shapeshifting reptilian alien ushering humanity towards enslavement".
David Icke is a British author who believes many world leaders are actually part of a plot to enslave the human race, driven by reptilian shapeshifting aliens.
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RMA reforms no long-term solution
NZ First leader Winston Peters, as he often does, drove a bus through National's blind spot this week.
"We also have a crisis in Auckland because this government is unwilling to govern and when it comes to housing that means actively planning, developing and building.
"The problem is twofold; a boost in demand from Auckland's growth fuelled by domestic and external immigration and a shortfall in supply that RMA changes will only affect slowly and at the margins.
The damage, though, is being done in the here and now and is clearly highlighted by the dilemma facing the Reserve Bank.In light of that Peters posed the right question: "If there is a problem in Auckland then solve it there instead of clubbing all of New Zealand.
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have you defeated them?
your demons
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^ Yep.
"Let them eat ice lollies"
In addition HNZ is selling off their first parcel of ex Papakura Army Base land to private developers at current market rates.
No need for any additional "affordable" housing in AKL .
Freeing up land will transfer profits into developers pockets, it won't reduce the prices being paid in AKL.
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